News

Bloomberg Oil’s weekly winning streak has stopped in its tracks. After six straight periods of gains, US benchmark crude futures dropped 8.3% this week. Market sentiment soured after the Federal Reserve warned of the coronavirus pandemic’s prolonged damage to the economy. Plus, fears over a second wave of virus infections threaten to disrupt any demand recovery. While crude has pushed ...

Bloomberg Investors may pull as much as $100 billion from the hedge fund industry this year, as a result of the economic fallout from the coronavirus crisis. The outflows — which may range from $50 billion to $100 billion — would mark the largest drawdown since the global financial crisis, when the industry saw $154 billion in withdrawals in 2008, ...

DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has received a positive assessment from the European Securities and Markets Authority (Esma) the EU’s securities markets regulator, and is now listed as a third-country trading venue (TCTV) that meets the post-trade transparency requirements under MiFID II and MiFIR. The DGCX met all the criteria set out ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced on Saturday that it conducted over 40,000 additional Covid-19 tests. In a statement, the ministry affirmed its aim to expand the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified testing campaign, MoHAP detected 491 ...

Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) proactively invested in state-of-the-art technologies and established an advanced digital infrastructure to provide its customers with a range of electronic and smart services. The move is in line with the UAE leadership’s directives and visionary stance. With the onset of the Covid-19 pandemic around the world, MoFAIC ...

ABU DHABI / WAM The United Arab Emirates has launched an initiative for the return of foreign nationals holding valid residence visas. The move targets the return of nearly 200,000 people in coordination with the Ministry of Foreign Affairs and International Cooperation and the Federal Authority for Identity and Citizenship. The initiative is a continuation of the country’s efforts to ...

ABU DHABI / WAM Theodore Ribera, Minister of Foreign Affairs of the Republic of Chile, expressed his thanks and gratitude to the UAE for the aid plane sent to his country as part of the UAE’s efforts to help various countries around the world in containing the spread of Covid-19. This came as the minister received the airplane which carried ...

DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has received a positive assessment from the European Securities and Markets Authority (Esma) the EU’s securities markets regulator, and is now listed as a third-country trading venue (TCTV) that meets the post-trade transparency requirements under MiFID II and MiFIR. The DGCX met all the criteria set out ...

ABU DHABI / WAM The “Check Points” tests which are held by the Ministry of Education for grades 9-12 in government and private schools that apply the Ministry’s curricula, will start tomorrow in physics, science, chemistry, health sciences, biology and the English language. Students in the ninth, tenth and eleventh grades of “Elite Path” will take the first test tomorrow ...

ABU DHABI / WAM The Abu Dhabi Police has warned families against potential scam targeting children, teenagers and “unsuspecting” adults to illegally take their money through internet games, advertisements and social media forums. The scammers use various deceptive and lucrative methods to take advantage of their victims, posing as legitimate organisations or businesses. The police referred to recent cases, where ...